Tensions in Ukraine on the eve of vote in Crimea on secession from the country and fears of the Chinese slowdown send the price lists into the red.
Piazza Affari loses 1,19% at 20.346 points but above the lows of the day, Paris -0,8%, London -0,4%, Madrid -1,39%. Only Frankfurt +0,43% goes against the trend. The Btp bund spread closes at 186 basis points.
JPMorgan, Bank of America and UBS have cut their forecasts for China's growth, fueling speculation that it may miss 7,5% GDP growth in 2014.
In the Eurozone they came out employment data: +0,1% compared to the third quarter and -0,9% the balance for the entire year, worse than -0,7% in 2012. The data shows that the result recorded by Italy compared to the third quarter 2013 (- 0,5%) is, together with that of Holland, the worst at EU level after those marked by Estonia (-1,3%), Latvia (-1,1%) and Cyprus (-0,6%). Fitch has revised downwards its estimates of Italian GDP to +0,6% in 2014 and +1% in 2015.
In terms of macro indicators, in the United States, the consumer confidence index calculated by the University of Michigan it dropped unexpectedly in March, to 79,9 points from 81,6 in February. Analysts were expecting an improvement to 81,9 points. The data on producer prices also failed to meet analysts' expectations, falling by 0,1% in February, while the core component, excluding food and energy products, fell by 0,2%. Analysts' expectations for February were instead for a rise of 0,2% for the general index and 0,1% for the core component. On an annual basis, producer prices increased by 0,9% in February. A marked slowdown compared to the 1,2% increase calculated a month ago and far from the 2% target pursued by the Fed.
On Wall Street, the stock market held up and at the end of Europe it moved in opposition around parity. But gold rose to 1.377 dollars per share (+0,47%). WTI oil rose by 0,52% to 98,5 dollars a barrel. The euro strengthens again against the dollar to 1,3912 (+0,32%).
In Piazza Affari the worst stock is A2a -3,9% on the day of publication of the 2013 accounts, followed by Ferragamo -3,4%. Yoox is also bad -3%. At the bottom of the Ftse Mib too Finmeccanica -2,96% and Where's Banca – 3,34%. Red overall for almost everything banking sector: Bpm -0,44%, Banco Popolare -1,43%, Unicredit -1,44%, Intesa -2,8%. This refers to MPS +2% on the expectations of a forthcoming announcement by the Foundation for the sale of an agreement to transfer approximately 20% of its share package. Strong volumes with 6,2% of the capital changed hands (726 million pieces). Indiscretions speak of a consortium led by the American fund Jc Flowers. Pirelli +1,18%, Saipem +1%, which received a contract worth 2 billion euros from the international consortium South Stream Transport for the construction of the first line of the offshore section in the Black Sea of the gas pipeline which will bring Russian gas to 'Southeastern Europe.
